Tagged: peer-to-peer lending

Administrators of Bankrupt P2P Lender Lendy Report £6.8 Million Paid to Marshall Island Entities, Claim Beneficiaries are Liam Brooke and Tim Gordon, Assets Frozen

This week, the administrators unraveling the collapse of peer to peer lender Lendy, which failed in 2019, announced an unsettling bit of information regarding suspect payments to two former Lendy Directors: Liam Brooke and Tim Gordon. According to a document posted on the Lendy website,… Read More

New Report Points Finger at Two Politically Influential Individuals in Latvia Related to Collapse of P2P Lender Envestio

The saga of the collapse of peer to peer lender Envestio keeps getting more interesting as a report published today points a finger at two politically connected individuals who may have been recipients of lost funds. Earlier this week, CI reported on an article in… Read More

Assetz Capital Tops £500,000 on Seedrs, Looks for Matching Money Under Future Fund

Assetz Capital, a secured peer to peer lender operating in the UK, recently launched a securities offer on Seedrs. Assetz Capital claims to be the second-largest peer to peer business lender in the UK. In about a week, Assetz Capital raised its £500,000 minimum target… Read More

Slam. Report States that Swedbank and SEB Enabled Fraud Networks Including Failed P2P Lender Envestio

A new report claims that established banks Swedbank and SEB enabled “suspected fraud networks” to operate in the Baltics and mentions bankrupt peer to peer lending platform Envestio by name. Envestio, and similar platform Kuetzal, recently filed for bankruptcy in Estonia. Earlier this year, both… Read More

P2P Fintech Lending Sector in Indonesia May Struggle Due to Risky Loans, as Lenders Rejected Over 50% of Restructuring Requests

The Fintech sector in Indonesia is reportedly struggling due to potentially risky loans as lenders on local peer to peer (P2P) lending marketplaces rejected over half of loan restructuring requests from debtors. This, according to a recent survey which revealed that Indonesia’s residents and businesses… Read More

Singapore Crypto Exchange TomoChain Set to Launch P2P Lending Feature Through TomoDex Platform

TomoChain, a Singapore-based cryptocurrency exchange platform, is reportedly set to launch a new peer-to-peer lending feature this weekend through its newly launched TomoDEX platform. Founded in 2017, TomoChain claims to be the “most effective” platform for the token economy. The platform reported that its mission… Read More

Publicly Listed Indian Fintech Lender 5paisa Announces Pay Hike for Employees to help them Cope with COVID-19 Challenges

India’s only publicly-listed Fintech company, 5paisa, revealed on June 3, 2020 that it would be giving its workers a 15% raise on their salaries and will also be offering advance bonus payouts in order to improve or boost employee morale. 5paisa’s generous move has come… Read More

RateSetter’s CEO Rhydian Lewis Says COVID-19 Is the P2P Lending Sector’s First “Major” Crisis, Its Focus Is “Entirely” on Customers

UK-based peer to peer (P2P) lender RateSetter recently revealed that fewer consumer borrowers are asking for more time to pay back their loans. RateSetter said that its loan performance is now consistent with what it had predicted or expected during April 2020 and it claims… Read More

UK’s P2P Lender RateSetter’s Chief Credit Officer, Michael Hoare, Explains how the Platform’s Provision Fund Aims to Buffer Against Credit Losses

UK-based RateSetter, a peer to peer (P2P) lender, notes that its Provision Fund has been designed to assist investors with managing credit risk and to simplify the investment process. As explained by Jonathan Hodge, the chief operating officer at RateSetter, the Provision Fund aims to… Read More

UK Fintech Lender Zopa to Reintroduce C Risk Band Loans into its Plus Product Offering

Fintech Zopa, the one platform to launch an entire sector of Fintech as it became the first peer to peer lending platform in the UK, recently reintroduced C risk loans back into its Plus product offering. Zopa, which still offers online lending in a more… Read More

P2P Lender Lendy, which Shut Down in 2019 and Went into Administration, Needs Investors to Clear More AML Checks Before Getting Refunds

Peer to peer (P2P) lender, Lendy, which shut down last year and went into administration, will be requiring previous investors to pass certain anti-money laundering (AML) checks again, before they qualify to get refunds. As confirmed on the firm’s website (which is not offering any… Read More

UK-based Peer to Peer Lender JustUs to Lend to Borrowers Who Are Essential Workers, During COVID-19 Crisis

JustUs recently confirmed that it will begin lending to borrowers who are considered key or essential services workers. The peer-to-peer (P2P) lending platform noted that it will selectively accept loan applications from individuals and companies that may be offering essential services during these challenging times…. Read More

Singapore’s SME Financing Plaform Validus Secures $14 Million, with $20 Million in Committed Capital via Series B+ Round

Singapore-headquartered Validus, a financing platform focused on SMEs, has secured more than $14 million in funding, with $20 million in committed capital, from a Series B+ investment round. Validus’ round was co-led by Kuok Group’s Orion fund (managed by K3 Venture Partners) and the Vertex… Read More

UK-based RateSetter, a Peer to Peer Lender, Says it’s Still Lending, but at a “Much-Reduced Level” Following COVID-19 Outbreak

Michael Hoare, chief credit officer at UK-based RateSetter, a leading peer to peer (P2P) lender,  recently explained what impact the Coronavirus (COVID-19) pandemic could have on the lending market and what it might mean for credit risk. Hoare is tasked with overseeing the management of… Read More

Indonesia’s Peer to Peer Lending Platforms Receive Numerous Debt Restructuring Requests Following COVID-19 Outbreak

Economic activity in Indonesia has slowed down significantly following the deadly Coronavirus (COVID-19) outbreak. According to local reports, some businesses in the trillion-dollar economy have shut down completely. Peer to peer (P2P) lending platforms are also experiencing major challenges, which include having to deal with… Read More

Robo.cash Says Coronavirus Pandemic Causing Minor Impact for P2P Investors

Robo.cash, a peer to peer lending platform operating in multiple jurisdictions, has distributed a note indicating that the Coronavirus pandemic (COVID-19) is not impacting P2P investors. Robo.cash states that while global financial markets experience extreme levels of volatility, European P2P investors continue to invest with… Read More

Update: ElfinMarket Set to Close Seedrs Round With More Than £700,000 Secured

UK-based peer-to-peer lending startup Elfin Market is set to close its equity crowdfunding campaign on Seedrs with more than £700,000 secured. The funding round was launched in January and quickly surpassed its initial £400,000 funding target. Elfin is currently offering 5.80% in equity through the… Read More

Peer to Peer Lending Platform LenDenClub Teams Up with Singapore’s CredoLab to Offer AI-based Credit Scoring System

LenDenClub, a peer-to-peer (P2P) lending solution provider, has teamed up with Singapore-headquartered CredoLab, an established developer of bank-grade online credit scorecards, which are based on mobile phone metadata.  LenDenClub has integrated CredoLab’s credit scoring system, called CredoSDK. The credit system will help the firm in… Read More

Robo.cash Milestone: European P2P Platform Has Attracted 10,000 Investors

European peer to peer lender Robo.cash announced on Monday it now has 10,000 investors on its platform. Founded in 2017, Robo.cash describes itself as a fully automated investment platform operating within an international financial group comprising loan originators from Spain, Russia, Kazakhstan, Indonesia, Vietnam, and… Read More

DeFi: Decentralized Finance Platform Compound’s Developers Reveal Results of Stress Tests Under Extreme Market Conditions

The developers of Compound, a decentralized Ethereum-based lending protocol that forms part of the nearly $1 billion (at current valuations) DeFi ecosystem, had commissioned a stress test, which now reveals that the platform will be able to scale its total borrowed ETH value by 10x… Read More

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